Global Edge Computing Market is expected to reach a market size of ~US$ 20 billion by 2028: Ken Research
What Is the Size of Global Edge Computing Industry?
Global Edge Computing market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~20 USD Bn by 2028. The Edge Computing Market is largely driven by the rollout of 5G and the rising demand for decentralized data processing capability. Edge computing use cases include the consumer desire for high-performance smartphone applications like high-definition multiplayer online battle arena (MOBA) games. Edge computing and the Internet of Things (IoT) offer attractive potential for edge computing architecture in developing nations like China, India, and Indonesia.
Since the storage and computing power of edge nodes is constrained, a well-equipped system is needed to connect the edge and the cloud. The barrier to the growth of the edge computing market will be the rise in network traffic from numerous nodes. Even when they are employing high bandwidth needs, many IT professionals still have the same problems.
Data centers and edge computing are now used more frequently due to the COVID-19 pandemic. Businesses across a wide range of industry sectors have scaled back their spending in upgrading servers and software to significantly reduce costs. Due to the ongoing focus on improving communications infrastructure, edge computing demand has increased since the COVID-19 outbreak and will continue to climb over the next years.
Global Edge Computing Market By Component
The Global Edge Computing market is segmented by Component into Hardware, Software and Services. The hardware segment held the largest market share in 2022 as it is becoming more and more popular in the managed services sector. The amount of data produced by IoT and IoT devices is rapidly growing along with their quantity. Enterprises are therefore implementing edge computing equipment to reduce the stress on the cloud and data centers to the volume of data generated.
Further subdivided into edge nodes/gateways (servers), sensors/routers, and others, the hardware market was dominated by the edge nodes/gateways (servers) segment. Additionally, the expansion of data centers in a variety of industries increases the demand for edge routers that connect local and wide-area networks (WAN).
Global Edge Computing Market By Application
The Global Edge Computing market is segmented by Application into IIoT, Remote Monitoring, AR/VR, Content Delivery and Others. Industrial Internet of Things (IIoT) segment held the largest market share in 2022, In the manufacturing sector, edge computing has a sizable installed base in the form of device edge. As services become more complex and the infrastructure edge is made more accessible, it is anticipated that demand for edge infrastructure will rise. Edge computing has been essential in helping businesses digitalize their facilities. Machine edge computing makes up a significant percentage of edge computing in the industrial sector. Demand for edge infrastructure that is set up to guarantee is expected to increase as system complexity increases and the edge of the infrastructure becomes more accessible.
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Global Edge Computing Market By End-User
The Global Edge Computing market is segmented by End-User into Manufacturing, Energy & Utility, Healthcare, Telecommunications, Retail and Others. Energy & utility segment held the largest market share in 2022, smart grids, which rely on device-edge infrastructure, are probably going to help the energy and utility sector’s income grow.
Global attempts to increase the efficiency of electrical utility services, including the development of alternative renewable power sources like solar and wind, are being fueled by environmental sustainability programs. In order to capabilities and improve operating efficiencies, smart grids are being implemented all over the world.
Market Taxonomy
By Component
- Hardware
- Software
- Services
By Application
- IIoT
- Remote Monitoring
- AR/VR
- Content Delivery
- Others
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By End-User
- Manufacturing
- Energy & Utility
- Healthcare
- Telecommunications
- Retail
- Others
By Geography
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
- LAMEA (Latin America, Middle East, Africa)
Leading Companies
- General Electric Company
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- SAP SE
- Amazon Inc.
- Huawei Technologies Co. Ltd.
- Hewlett Packard Enterprise Development
- Honeywell International Inc.
- Google LLC
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